LAHORE
\nPunjab Assembly Speaker Malik Muhammad Ahmad Khan Friday assured the Lahore Chamber of Commerce and Industry (LCCI) that its concerns and proposals regarding regulatory enforcement, taxation, industrial development and investment facilitation will be taken up with relevant authorities.
\n\u201cEffective legislation requires consultation with stakeholders and that excessive regulation can discourage investment and undermine economic activity,\u201d he stated, while talking to business community here at LCCI, where the Chamber\u2019s President Ali Hussam Asghar, Senior Vice President Sardar Usman Ghani and Vice President Chaudhry Khadim Hussain presented proposals to end the FIR culture, prevent harassment of traders, review arrest powers, and address other issues affecting the businesses.
\nFormer LCCI President Mian Misbah-ur-Rehman, former Senior Vice President Nasir Hameed Khan and Executive Committee Members spoke on the occasion. Senior Members Amjad Ali Chaudhry, Khawaja Shahzeb Akram, Sohail Nisar, Executive Committee Members Sheikh Muhammad Ibrihim, Shah Behram, Mardan Ali Zaidi, Naila Nadeem, Shahzad Mehmood, Zulfiqar Ali Ch., Tariq Mehmood, Muhammad Ijaz Ghouri, Zaman Naseeb, Muhammad Umair, Abdullah Chaudhry, Tariq Mahmood, Chaudhry Fargham, Adeel Babar Khan, Sahir Mushtaq, Ali Raza, Hamid Raza, Shahzad Ali Shah and others were present.
\nThe Speaker acknowledged the importance of the business community\u2019s contribution to economic growth, employment generation, foreign direct investment, foreign exchange earnings, infrastructure development and corporate social responsibility. He said that taxation and regulatory policies should be formulated with appropriate consultation and expert input.
\nHe agreed with the LCCI President Ali Hussam Asghar\u2019s proposals regarding excessive enforcement and the treatment of traders, saying that regulatory action should be fair, proportionate and consistent with the law. Referring to government efforts in infrastructure development, roads, municipal services, public safety, surveillance and urban improvement, he said development initiatives must be accompanied by effective engagement with stakeholders.
\nThe Speaker said that Prime Minister Shahbaz Sharif has a great association with the business community and taking great measures to build up confidence of the investors and strengthen the country\u2019s economy. He also praised Chief Minister Punjab Maryam Nawaz Sharif for her efforts to promote development across the province, particularly in improving infrastructure, roads, municipal services and the overall investment environment.
\nMalik Muhammad Ahmad Khan assured the LCCI leadership that Punjab Assembly remained open to dialogue with the business community. He said the proposals presented during the meeting would be reviewed and discussed with the relevant departments and authorities. He also congratulated the chamber\u2019s newly elected office-bearers.
\nLCCI President Ali Hussam Asghar said that the government should consult the business community before introducing laws and regulations affecting trade, trade, industry and investment. He said sustainable economic growth required a business-friendly legal framework, protection against unnecessary harassment and fair implementation of regulatory requirements.
\nHe presented a set of proposed amendments in the Punjab Real Estate Regulatory Authority to the Speaker Punjab Assembly and appreciated the efforts of LCCI Executive Committee Member Shah Behram in this regard. He called for a review of the Punjab Food Authority Act.
\nThe LCCI President proposed an effective grievance-redressal mechanism to resolve business-related complaints and called for stronger coordination among LCCI, the Prime Minister\u2019s Office, the district administration and relevant government departments.
\nLCCI Senior Vice President Sardar Usman Ghani expressed concern over enforcement practices that could result in collective punishment of businesses for incidents involving individuals.
\nReferring to an incident at Tollinton Market in which a worker was reportedly injured, he questioned the fairness of action against other workers and businesses without first establishing individual responsibility through a proper investigation.
\nHe advocated a graduated regulatory approach. He stressed that enforcement should be based on verified facts, due process and the actual responsibility of those involved.
\nSardar Usman Ghani also called for improvements in markets, traffic management and digital systems to facilitate business activity, emphasising that cooperation with traders would produce better results than excessive reliance on punitive measures.
\nLCCI President Ali Hussam Asghar also urged the Speaker to promote regular interaction between legislators and the business community, proposing that 30 to 40 members of the Punjab Assembly engage with local chambers. He said that LCCI be consulted before legislation affecting businesses was introduced and proposed including the LCCI President as an ex-officio member of relevant finance and economic committees.
\nHighlighting the LCCI\u2019s economic initiatives, Ali Hussam Asghar referred to the Invest Lahore initiative and cooperation with the district administration to promote Lahore\u2019s economy. He said LCCI wanted to assess the district\u2019s economic performance at the beginning and end of its current tenure to measure progress in investment, business activity and economic development.
\nLCCI Senior Vice President Sardar Usman Ghani raised concerns about land-conversion and commercialization charges associated with the Ravi Urban Development Authority (RUDA).
\nHe cited estimates of around 1,400 SME units and 150,000 workers potentially affected by the issue and urged the authorities to review the financial burden on businesses. He also raised concerns about the alleged misuse of authority by enforcement personnel and requested the Speaker to take up these matters with the Chief Minister of Punjab.
\nFormer LCCI President Mian Misbah ur Rehman urged the Speaker to convene a meeting involving the relevant departments and business stakeholders to examine these issues and provide interim relief while necessary amendments to the law were considered.
\nLCCI Vice President Chaudhry Khadim Hussain said that the business community should also be informed about government initiatives. Khawaja Shahzeb Akram proposed a comprehensive survey of sick industrial units to identify the reasons for their closure, assess the investment required to restart them and determine how willing investors could be encouraged to revive operations.
\nFormer LCCI Senior Vice President Nasir Hameed Khan said that attracting new investors required the government to demonstrate that existing local investors were being facilitated and treated fairly. He called for a business environment in which local investors could prosper and serve as examples for others considering investment in the province.<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE Punjab Assembly Speaker Malik Muhammad Ahmad Khan Friday assured the Lahore Chamber of Commerce and Industry (LCCI) that its concerns and proposals regarding regulatory enforcement, taxation, industrial development and investment facilitation will be taken up with relevant authorities. \u201cEffective legislation requires consultation with stakeholders and that excessive regulation can discourage investment and undermine economic …<\/p>\n","protected":false},"author":4,"featured_media":104490,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-104456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/104456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=104456"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/104456\/revisions"}],"predecessor-version":[{"id":104491,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/104456\/revisions\/104491"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/104490"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=104456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=104456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=104456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}